Abroad, cashless payments are very convenient. But beware of the fees charged by banks and ATMs. The On en parle program provides some advice so as not to be caught off guard when you return from vacation.
Buying an ice cream for two euros on a beach in Italy using a debit card could result in a commission as high as its price. How to avoid unpleasant surprises when making payments abroad?
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If traditional banks often charge taxes for payments abroad by card, neobanks, 100% digital, take no commission on payments with debit card. However, some establishments do not charge any commission but apply an exchange rate that is less advantageous for customers. The same goes for online purchases and reservations.
>> Also consult:: Paying by card abroad: the big difference in fees depending on the bank
Credit card advantageous in certain cases
If you opt for the credit card, its advantage lies in particular in the fact that the amounts spent are only debited by the bank at the end of the month. It is also advisable to book a rental car or a plane ticket with the credit card because it offers many additional services, for example insurance covering part of the cancellation costs, damage or loss of luggage, accident or repatriation abroad and protection against dangers on the Internet such as theft of personal data.
In case of withdrawal abroad, choose a bank ATM
Aymeric Brügger, investment and banking specialist at VZ in Lausanne, warned On en parle listeners about certain ATMs applying a surcharge abroad on April 24, 2024. According to him, “you should always use a debit card to withdraw money. This is also valid in Switzerland and abroad. In a bank ATM, the fees are generally lower than in ATMs run by private operators located in tourist locations or airports, for example. Select the local currency and watch out for surcharges. If applicable, cancel the transaction and go to another ATM.”
Radio subject: Isabelle Fiaux and Bastien von Wyss
Web adaptation: Myriam Semaani
